Financially Enabled
A Differentiating Skill Set
Scott Einbinder
A SALE IS
A LEGAL AND
FINANCIAL TRANSACTION
WHAT IS A MORTGAGE IN
2016-2017
MORE ANALYSIS
GREATER VERIFICATION
MORE DOUBT IN EMPLOYMENT
GREATER SCRUTINY OF ASSETS
NOTE VS MORTGAGE
MOST SEASONED AGENTS LACK FINANCIAL
LITERACY
Sales Flow
Establish Rapport
Identify Need or Want
Inject Value Proposition
Overcome Objections
Close
ALL MORTGAGES
INCOME
ASSETS
CREDIT
PROPERTY
Income
w-2
1099
self employed
2 years
line of work
declining income
Assets
Liquid
Seasoned
Unusual Deposits
Credit
score
tiers
line items
length
collateral
appraise
comps
adjustments
contract validate
VERIFY BEFORE YOU TRY
PRE-QUALIFICATION LETTERS
PRE-APPROVAL LETTERS
PRE-COMMITMENT LETTERS
LP/DU FINDINGS- THE ONLY WAY TO GO
SCRIPT
Other agents may have worked with you without
being LP or DU Approved. If so, they have not
been giving you all the advantages as a buyer.
This LP DU Finding will help you not only save
time and make the process fun, but potentially
help me negotiate better price terms and
conditions for you.
What Drives Rates?
FNMA, FHLMC, GNMA Bonds
What Drives the Bonds?
What Financial Activity
Price and Yield——-What Happens?
**TRID- DO NOT FORGET THIS
Key Reports
Employment Report
Inflation Reports CPI PPI
Purchasing Indexes
Housing Reports New and Existing
Manufacturing Reports
Reports vs. Consensus
GETTING CONNECTED
HOW TO LEVERAGE FINANCIAL KNOWLEDGE
FOR MORE BUSINESS
WITH BUYERS!—EBA—-RATES RISE / PRICES
WITH SELLERS—- SHOW DIFFERENTIATION
RATES RISING ARE LIKE PRICES FALLING
QUESTIONS
INCOME- what are you ratios and EMPLOYMENT
ASSETS- what is liquid, available and seasoned
CREDIT- score, usage, line items
LOCK CONVERSATIONS
10, 30, 60 DAYS PRICES/RATES AND WHAT IS
THE RELEVANCE
BUY-DOWNS PAID BY THE SELLER PROVIDES
IMMEDIATE ROI
CONCESSIONS- 3%-6%
THE 1/8TH
$ 250,000 MORTGAGE @ 4.125% = $ 1,211.75
4.25% = $ 1,229.75
4.375% = $ 1,248.25
5.125%= $ 1,361.25
1% DIFFERENCE IS $ 150/MO (PRE-TAX)
PRE-PAY CHART FOR MORTGAGE REDUCTION